Creator: Bryant, John B. Series: Working paper (Federal Reserve Bank of Minneapolis. Research Department) Number: 146 Abstract:
The determination of the mechanism for ordering strategies in a game theoretic conflict is the keystone of economic science, at least insofar as economics is to remain an outgrowth of that (otherwise relatively minor) school of English philosophy, Utilitarianism. A method for the solution of the general game is presented in this paper, and the implications for economic theorizing discussed.
Keyword: Multiple equilibria, Political economy, Minimax-Nash, Economic theory, and Games Subject (JEL): C72 - Noncooperative Games and D50 - General Equilibrium and Disequilibrium: General